Macro· ★★★★· bearish·

BofA: $166B Flooded Into Money Market Funds in a Week, Most Since 2020

  • —$166.4B flowed into money market funds, the most since April 2020
  • —10-year Treasury yield hit 5.36%, a roughly 24-year high
  • —Crypto funds shed $600M for the week as gold attracted $2B
  • —Money market assets near $8T, up from $5T in 2023
Why it matters: Cash piling into money markets and elevated Treasury yields pressure risk assets, including bitcoin, until the Fed cuts rates.
#BTC
Source: BeInCrypto AR
More on this
DeFi · 00:50
Crédit Agricole Assurances invests €100m in tokenized Amundi money market fund
 DeFi · Oct 7
BlackRock's Nikhil Sharma pitches tokenized money market funds as instant collateral at TOKEN2049
 DeFi · Oct 6
DigiFT Brings Fidelity Treasury Money Market Fund Onchain for Institutions